If you set up your business as a Limited Company then you must pay Corporation Tax on your company profits, money your company makes from investments or selling assets
You must register for Corporation Tax when you start trading or restart if your company has been dormant. Your company must submit a company tax return to work out how much Corporation Tax to pay. You must also submit annual accounts to Companies House
Your financial year end will be the end of the month of incorporation unless this is changed and you accounting period will normally be the same 12 months as your financial year
Your deadline to pay your Corporation Tax liability will usually be 9 months and 1 day after the end of your accounting period. You must usually file your Company Tax Return within 12 months of the end of your accounting period
If your Company does not carry out any trade within a year, this is known as a dormant company. If your company is dormant, you will need to submit dormant accounts to Companies House and notify HMRC so that they do not expect a Company Tax Return
The current Corporation Tax rate for company profits is 19% as at the 2021/22 tax year
Corporation Tax applies to the profits of your company, this is a separate entity from you and any money you take from the company must be assessed for income tax
HMRC helpline for general Corporation Tax enquiries.
You’ll need your 10 digit Unique Tax Reference (UTR) that will be on all letters from HMRC
HMRC advisers cannot give you this reference over the phone but you may ask for a copy of your UTR to be sent by post if you do not know it
0300 200 3410
+44 151 268 0571
Our phone line opening hours are:
Monday to Friday: 8am to 6pm
Closed on weekends and bank holidays.